Scheme Details

To tackle the complex issue of GHG shipping emissions a new International Maritime Emissions Reduction Scheme (IMERS) is proposed.
The proposed scheme is global in order to maximise economic efficiency and avoid competitive issues of regional and national schemes. Specifically it is flag neutral. It is also differentiated as per the climate change regime and UNFCCC principles.
It addresses both emission mitigation and adaptation to climate change, including funding for transformational technology changes.
NOTE: The recent refund version, submitted at the Barcelona Climate Change Talks 2009" - is not fully reflected on these pages, yet.

Long-term Cooperative Agreement (LCA) for international shipping

The outcome of the scheme depends on the long-term cooperative agreement (LCA) for maritime contributions to the climate change action. Anticipated funding for the three goals together with the operational costs are shown in the table below for the LCA driven by a notional goal "20-50 from 2005 level" (reduce emissions 20% by 2020, and 50% by 2050 from the emission level in 2005). Carbon prices used: $30/tCO2 in 2012, $60/tCO2 in 2020. Emission baseline in 2005: 1GtCO2. Annual net emission growth: 2.1%/pa.

Two historical summaries as prepared for the IMO MEPC 56 session in July 2007 are available:

• a working 1-page example
  
• a supporting document with main details (0.1 MB)
  Note that the recent estimates for emissions from shipping have doubled from a year ago!